TLDR
**Allows private chains to have public consumer auditing
**Blockchain based identities speeds up financial onboarding
**Protects users information by hosting it securely on the blockchain
**Provides easy to use APIs to quickly integrate finance platforms
**Possible top 20 banking partnership in the works
**Roadmap will soon integrate AI machine learning and immutable records
**Reduces infrastructure cost for many common financial applications
Ticker - HYDRO
Availiable at- www.Ethershift.co - IDEX - Fork Delta - Mercatox
What is Hydrogen?
Hydrogen (HYDRO) is a platform which will allow for private chains to interact with public ones. While the idea of a fully transparent ledger is comforting to some, it is not to others. This leaves much of your private information out in the open, and it’s a huge concern for financial applications that may be interested in using the blockchain. However, in Hydro’s proposed solution, these companies would be able to utilize private chains, but by utilizing a multi-layer security approach which involves both a public and a private layer, these transactions could be more secure. It also gives the public the ability to see who has accessed public systems, and that means that corporations can not hide system breaches from their users. They call this protocol Raindrop, but they also have something else interesting in the works.
Raindrop will be the base security layer for their platform, but they are also working on Snowflake, which will be an identity management system, the other piece of the financial blockchain puzzle. Identity theft is an enormous issue in the current financial system, and it’s estimated that over 15 million citizens in the US alone are victims of it every year. A large part of this theft comes from unsecured private financial information that is being transmitted.
In Snowflake, users will build a secure financial profile which they will retain control of. They will then have the option to share this information with financial institutions securely over the blockchain to protect their privacy and their information from being compromised. This also creates an advantage for the financial institution in that the on boarding process is much quicker, and they can protect their own assets from fraud.
Hydro also understands that adopting new infrastructure can be a time consuming and expensive process. To this end they’ve created some very useful APIs, and they’ve structured their solution in such a way that it can be easily integrated into existing systems, potentially easing the burden of adopting new procedures. When financial institutions are ready to adopt these technologies, it’s likely that this step will prove to be a large determining factor in what solution they ultimately choose to go with.
The team plans to expand their offering to provide more financial services soon such as Ice, which allows for immutable blockchain records and stamping of financial documents, or Myst, which will allow these institutions to leverage AI and machine learning for their systems with plug and play APIs. For investors, Hydro is a fascinating new blockchain product that is still sitting at a very attractive price, and the word on social media is that they’ve just signed a deal with a top 20 bank in the world, though the details can not yet be disclosed for legal reasons,
This project seems to have a great future ahead.
